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Fiji - How to Get Licence for Banks

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ProcedureEdit

Apply In-Person:

  1. To Get Licence for Banks, the applicant must visit the Reserve Bank of Fiji office. Contact Link
  2. The applicant must write “Application Letter/Intent Letter” to the respective officials in the Reserve Bank of Fiji.
  3. Along with the written application letter, the applicant needs to submit other forms, namely,
  4. Personal Declaration Sheet Form
  5. Information Sheet From
  6. If the applicant is an Overseas applicant, then they must submit “Written confirmation letter” from the banking supervisory authority in the applicant’s country of incorporation stating “No objection to the proposal to carry on banking business in Fiji” and along with that, they must also attach the “Letter of Undertaking” form while applying. Form
  7. While submitting the application, the applicant must pay the application fee, which is $25,000 + VAT.
  8. Make sure that you have all the documents that are mentioned in the “Required Documents” section of this page.
  9. The written letters and the other forms should be filled with necessary details, and along with the required documents, it should be submitted to the respective authority in the Reserve Bank of Fiji.
  10. The Banking License application form will be analysed, and verified based on the “Banking ACT -1955”, and also according the rules and regulations framed by the Reserve Bank of Fiji.
  11. After complete verification and document checks, if all the documents are legitimate, then the applicant will be issued with the License to run a Banking Business in Fiji under the rules and regulations framed by the Reserve Bank of Fiji.
  12. The processing time will be intimated to the applicant while applying.



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Required DocumentsEdit



Office Locations & ContactsEdit

RESERVE BANK OF FIJI
Reserve Bank Building, Pratt St, Suva, Fiji.
Postal Address: Private Mail Bag,Suva, Fiji.
Phone: (679) 331 3611
Fax: (679) 330 2094
Email: [email protected]
Address & Contact Link

EligibilityEdit

  • There are various factors required to qualify for the Banking License application. The basic eligibility requirements will be explained clearly by the authorities in the Reserve Bank in person.



FeesEdit

  • Application Fee - $25,000 + VAT.



ValidityEdit

  • The validity period will be mentioned in the license certificate issued to the applicant by the Reserve Bank of Fiji.



Documents to UseEdit



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

  • The processing time will be intimated to the applicant while applying.



Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.



InstructionsEdit

Please provide other instructions related to the certificate/documents.
e.g., The state office holds birth records since January 1908.


Required InformationEdit

  • PERSONAL DECLARATION FORM

SECTION A

  • Name
  • Date of Birth
  • Country of Birth
  • Country of Citizenship
  • Country of Residency
  • Since (Year)


SECTION B: CAPACITY OF PERSON MAKING DECLARATION

  • Position or capacity


SECTION C: ADDRESSES
Present Business Address

  • Country
  • Business Phone
  • Fax
  • Email


Present Residential Address

  • Residential Phone
  • Fax
  • Email
  • Country


Last two addresses in Fiji, over the past ten years, if any:
SECTION D
Professional Qualifications

  • Academic Degree Awarded
  • Field of Study
  • Institution Awarded From
  • Year Obtained


Membership in Professional Organisation

  • Organisation
  • Specialisation of Organisation
  • Year Membership Began


SECTION E - EMPLOYMENT HISTORY

  • Employer Name
  • Business of Employer
  • Positions Held Period of Employment


SECTION F: SHAREHOLDERS STAKE

  • Shares held in Parent Entity* (%)
  • Shares held in Applicant* (%)
  • Type of shareholding in Applicant


SECTION G: OTHER BUSINESS AFFILIATES (DIRECT & INDIRECT)

  • Name of Business
  • Nature of Affiliation*
  • Period for


SECTION H: INVOLVEMENT IN CRIMINAL AND CIVIL PROCEEDINGS

  • Name of Investigative Body or Court
  • Country
  • Status
  • Full Particulars


SECTION I: DOCUMENTARY REQUIREMENTS
SECTION J: CERTIFICATION AND UNDERTAKING

  • Name
  • Signature
  • Position
  • Date
  • Sworn at/ Date
  • Signature of “A commissioner of Oaths of Affidavits”


  • INFORMATION SHEET


SECTION A: APPLICANT COMPANY

  • Name of Applicant
  • Principal Business Activities
  • Principal Objectives
  • Principal Place of Business
  • Other proposed locations for operations in Fiji
  • Annex the full particulars and objectives of business.


SECTION B – PARENT COMPANY

  • Name of Parent Company


HEAD OFFICE

  • Address Head Office
  • Telephone No (s)
  • Facsimile
  • Web-site
  • E-mail


BRANCHES

  • Number of branches in total
  • List of countries operating in
  • List of Main Branches*, their addresses and year of establishment
  • Branch (established) - *If no main branches, please list the four largest branches.
  • Addresses


SUBSIDIARIES

  • Name of Entity
  • Nature of Business
  • Market Value of shares held* (Home Currency)
  • Percentage Shares Held in Total


MANAGEMENT

  • Board of Directors
  • Name
  • Position on Board
  • Present Term
  • Number of Years as a Board Member


SECTION – C MANAGEMENT OF APPLICANT
Management

  • Board of Directors
  • Position on Board
  • Present Term


BOARD COMMITTEE(S)

  • Committee 1/ Committee 2
  • Name of Committee
  • Purpose of Committee
  • List of Members


OFFICERS

  • Name
  • Position in the Applicant
  • Position in the Parent/Subsidiary Company
  • Number of years as officer in the Parent Company


SECTION D: OWNERSHIP PROFILE OF THE APPLICANT

  • Name
  • Country of Citizenship
  • Country of Residency
  • Paid-up Capital in the applicant ($F)
  • Paid-up Capital in the applicant (%)
  • Contribution towards Paid-up Capital of the parent
  • Total Value of Paid-up Capital: $F


SECTION E: SHAREHOLDINGS IN OTHER FINANCIAL INSTITUTIONS

  • Name of Institution
  • Shares Owned ($F)
  • Quantity of Shares Owned
  • Percentage of Capital Contributed


SECTION F: APPLICANT’S PROPOSED ORGANISATION PROFILE
SECTION G: SUPPORTING INFORMATION
SECTION H: DECLARATION OF UNDERTAKING OF THE APPLICANT

  • Name
  • Signature
  • Position
  • Date
  • Sworn at/ Date
  • Signature of “A commissioner of Oaths of Affidavits”



Need for the DocumentEdit

  • The Bank License (for any bank) is a necessary document to run a Bank in Fiji. It must be licensed and registered by the Reserve Bank in Fiji.



Information which might helpEdit

Enter other information which might help.


Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g., Birth Certificate can be used as proof of identity.


External LinksEdit



OthersEdit

More information which might help people.



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